Lupin Limited , a global pharmaceutical leader, has announced record-breaking financial results for the second quarter, showcasing robust growth across key markets and improved profitability.

Financial Highlights

Lupin reported total revenue from operations of INR 7,048 crores for Q2, marking a significant 24% year-over-year growth. The company's EBITDA reached INR 2,138 crores, with margins expanding to 31.3%, up from 23.8% in the same period last year.

Market Performance

• U.S. Business: Grew by 47% YoY, reaching USD 315 million in sales.
• India Business: Core domestic formulations grew by 8.8% YoY, outperforming the Indian Pharmaceutical Market (IPM) growth.
• Other Developed Markets: Reported 19% YoY growth, with Europe as a standout performer growing at 26.8% YoY.
• Emerging Markets: Demonstrated 45% YoY growth, led by strong performances in Brazil and South Africa.

Key Developments

1. EBITDA Margin Guidance Raised: Lupin has increased its full-year EBITDA margin guidance to 25-26%, up from the previous 24-25%.

2. VISUfarma Acquisition: Lupin announced plans to acquire VISUfarma, expanding its European presence and specialty portfolio in ophthalmology.

3. U.S. FDA Approvals: Secured approvals for complex injectables, including generic Victoza®, Risperdal long-acting injectable, and Glucagon.

4. Biosimilars Pipeline: Targeting to have at least five biosimilar products in the U.S. market by fiscal year 2030.

5. Respiratory Portfolio Expansion: Investing USD 250 million in the U.S. for expanding respiratory product manufacturing capabilities.

6. Green Propellant Initiative: Adopting Honeywell Solstice® propellant for inhalers, aligning with environmental sustainability goals.

7. Oncology Manufacturing Expansion: Unveiled a dedicated Oncology Block at its Vizag facility in India, enhancing capabilities in high-potent API development and manufacturing.

Management Commentary

Vinita Gupta, CEO of Lupin Limited, stated, "We are truly delighted to announce a record quarter with total revenue from operations and EBITDA exceeding INR 7,000 cr and INR 2,100 crores, respectively, for the first time in our history."

Ramesh Swaminathan, Executive Director, Global CFO & Head of IT and API Plus SBU, added, "We've delivered positive results on most key financial metrics, be it growth, gross and operating margins, earnings per share, or leverage ratios. As a result, our ROCE is about 25% as at the end of Q2."

Future Outlook

Lupin remains focused on sustaining its growth momentum through:

• Continued expansion in complex generics and biosimilars
• Strategic investments in specialty portfolios, particularly in respiratory, neurology, and ophthalmology
• Leveraging the VISUfarma acquisition to strengthen its European presence
• Advancing its green propellant initiatives in respiratory products

The company's strong performance and strategic initiatives position it well for continued growth and value creation in the global pharmaceutical market.

Lupin Manufacturing Solutions (LMS), a wholly owned subsidiary of Lupin Limited, has announced the commissioning of a state-of-the-art Oncology Block at its Vizag facility in India. This strategic move significantly enhances LMS's capabilities in the development and manufacturing of High Potent Active Pharmaceutical Ingredients (HPAPIs) for oncology drugs.

Key Features of the New Oncology Block

The new facility boasts impressive specifications:

Enhanced Capabilities

The Oncology Block is designed to support the entire lifecycle of oncology drug development, from preclinical research to commercial manufacturing. It integrates a Process Development Laboratory with a dedicated Quality Control laboratory, enabling:

• Early-stage route scouting
• Analytical development
• Process optimization
• Validation

This integrated approach allows for seamless transition from lab-scale synthesis to full-scale commercial manufacturing.

Advanced Safety and Compliance

LMS has implemented stringent safety measures and compliance standards in the new facility:

• Isolator-based operations at every process step
• Integrated SCADA systems
• Robust effluent detoxification system
• Adherence to global regulatory standards and Lupin's quality protocols

Strategic Importance

Dr. Abdelaziz Toumi, Chief Executive Officer of Lupin Manufacturing Solutions, emphasized the strategic importance of this new facility: "This state-of-the-art facility enhances our capacity to produce high-quality APIs and develop impactful therapies that benefit patients globally. This marks a major milestone in LMS's evolution into a dedicated and trusted CDMO partner for oncology innovators."

About Lupin Manufacturing Solutions

LMS, a 100% subsidiary of Lupin Limited, operates as a manufacturer of active pharmaceutical ingredients and a global contract development and manufacturing organization (CDMO). The company offers integrated solutions across drug substances, complex chemistry, drug products, and advanced modalities, including Antibody-Drug Conjugates (ADCs) and peptides.

Conclusion

The inauguration of this Oncology Block represents a significant step forward for Lupin Manufacturing Solutions in the field of oncology research and manufacturing. By combining Lupin's scientific legacy with advanced containment facilities and regulatory excellence, LMS aims to accelerate the development of oncology treatments from concept to commercialization, potentially bringing hope to patients worldwide more quickly and efficiently.

This article is based on a press release dated November 12, 2025, from Lupin Limited.